Kenneth Rijock

Friday, August 28, 2015

Individuals considering investing in the Republic of Panama are duly advised that REPUBLIC ASSET MANAGEMENT CORP., which is controlled by Ryan Bateman and Cody Bateman, both formerly of the Cayman Islands, is not licensed to provide fiduciary services in Panama, does not possess the required capital, and is a shell company with no assets. Republic has been warned previously, by Panamanian regulators, that it cannot operate as an asset management company, but it is still accepting investor funds. Investors who have entrusted funds to Republic Asset Management Corp. should immediately retain competent legal counsel, to seek to recover their assets, forthwith, if they still exist.

Ryan Bateman, a Canadian national, is a fugitive from justice in Grand Cayman, for a crime of violence, and is currently under criminal investigation, as the former Managing Director of the Bateman Group*, a number of exempt companies, without a licensed manager, who reportedly diverted USD$450m in client funds, for a trading scam, where Bateman kept all the profits earned by improperly investing client money. Cody Bateman was a senior officer of the Bateman companies in the Caymans.

Bateman's known Cayman-based associates in the fraud include Sharon Lexa Lamb, Derek Buntain, and Fernando Moto Mendes; there were also a number of prominent Canadian investment advisers involved in the fraud, and subsequent money laundering, but their names will not be disclosed here at this time, to prevent them from flight to avoid prosecution in Canada.

Bateman has another entity, Bateman & Company, Ltd., which traded client securities in the United States, without their consent & knowledge, through financial institutions in the United States. One wonders how the compliance departments of these US banks ever approved such transactions, given Bateman's dark past. He operated bogus "High Yield Investment Programs (HYIP)" in Calgary, Alberta, until his activities came to the attention of government regulators, after which he relocated to Grand Cayman.

We note that the company's name is deceptively similar to those of a number of established, reputable investment firms, international banks, and wealth management firms; no doubt the choice of name was to deceive prospective clients into believing that the company was an affiliate or subsidiary,
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* B & C Capital. Ltd.
Bateman Financial, Limited.